BankNET 360 –More than 200 comments have been filed with the Securities and Exchange Commission over the proposed rule to raise the accredited-investor standard.
Many of the commenters are opposed to raising the standard, which would require hedge fund investors to have a minimum net worth of at least $2.5 million, up from $1 million currently.
Shutting out small investors from hedge funds is “un-American,” according to one comment. A popular argument raised by many commenters is that net worth has little to do withintelligence.
